According to the Czech Republic's central bank governor, Alex Michl, incorporating bitcoin into the institution's reserves could enhance performance due to its low correlation with traditional assets. However, he cautioned that its volatility far exceeds that of other assets, making it a risky investment. Michl noted that all assets carry the risk of losing value, emphasizing the importance of diversification. The central bank's study found that bitcoin can provide high returns with minimal allocations, but its risk profile led the Bank Board to decide against investing in it at this time.